September 2026 passenger vehicle registrations crossed 4.20 lakh units, and the manufacturer ranking threw up a close fight behind market leader Maruti Suzuki. Vahan data shows 4,20,359 passenger vehicles were registered during the month, up 31.8 percent from 3,18,907 units in September 2025 and 2.6 percent from 4,09,528 units in August.
Maruti Suzuki remained a distant number one with 1,69,826 registrations and a 40.4 percent share. The more interesting battle was for second place.
Mahindra registered 57,817 vehicles, only 1,661 more than Tata Motors at 56,156. Hyundai was not far behind either, recording 50,201 registrations.
These are registration numbers, not factory dispatches. That distinction matters because the wholesale ranking for September was slightly different, with Tata finishing just ahead of Mahindra.
Registrations show vehicles actually entered on the Vahan system during the month, while wholesale figures record vehicles dispatched by manufacturers to dealers.
Maruti Still Has A Huge Lead
Maruti Suzuki’s September registrations were nearly three times Mahindra’s volumes. Its registrations increased 30.1 percent year on year, although they were virtually flat compared with August. The company’s market share was 40.4 percent, down slightly from 40.9 percent a year earlier.
Mahindra’s 57,817 registrations were up 35.5 percent year on year and 7.8 percent month on month. Its share increased to 13.8 percent. Tata followed at 56,156 units, up 28.1 percent year on year, but down 3.3 percent from August. Tata’s share stood at 13.4 percent.
Hyundai remained fourth with 50,201 registrations. That was a 31.5 percent increase over September 2025 and a 4.4 percent rise over August. Its market share was 11.9 percent.
Together, Maruti Suzuki, Mahindra, Tata and Hyundai accounted for almost four out of every five passenger vehicles registered during September.
Toyota And Kia Complete The Top Six
Toyota held fifth place with 28,212 registrations, up 21.4 percent year on year. Kia was sixth with 26,668 units, but its growth rate was much stronger. Kia registrations jumped 45.9 percent compared with September 2025 and 9.7 percent over August. Its market share increased from 5.7 percent to 6.3 percent.
The gap between Toyota and Kia was only 1,544 units, making this another ranking worth watching over the next few months.
The combined Skoda and Volkswagen tally stood at 8,468 registrations, putting the group seventh in the source data. MG followed with 6,475 units. Honda was ninth at 5,283 registrations, while Renault completed the top ten with 3,411.
Nissan And VinFast Almost Level
Below the top ten, Nissan and VinFast were separated by just three registrations. Nissan recorded 2,967 units, while VinFast registered 2,964. Nissan’s volume was more than double its September 2025 figure of 1,379 units.
VinFast, which was still at a very small base a year ago, increased 32.4 percent over August’s 2,239 registrations. BYD ranked next with 836 registrations, followed by Citroen at 803 and Jeep at 272.
The rankings also show how concentrated the market remains. The six largest manufacturers accounted for about 92.5 percent of September registrations. That leaves every manufacturer from the Skoda-Volkswagen grouping downward competing for less than eight percent of the market.
September therefore produced two very different pictures at the same time. Maruti Suzuki remained comfortably ahead at the top, but the gaps immediately behind it were much tighter.
Mahindra, Tata and Hyundai were separated by fewer than 7,700 registrations, while Toyota and Kia were separated by just over 1,500. With gaps this small, even modest month-to-month changes can reorder the positions behind Maruti Suzuki.